SPQS News Yesterday was not picked up  because it was

New Post Public Reply Private Reply Replies (0) Message Board
Depcom

SPQS News Yesterday was not picked up  because it was released through OTC Disclosure and news Service


SPQS divests Planet Eco Products
Oct 01, 2012
OTC Disclosure & News Service

Orlando, FL -

SPQS divests Planet Eco Products


Orlando, FL Oct. 1, 2012 (OTC MARKETS NEWSWIRE) -- SportsQuest, Inc. (SPQS), a publicly-traded holding company, disclosed today the divestment of Planet Eco Product as of September 29th, 2012.

SportsQuest, Inc (SPQS) identified the non-core Planet Eco Products in June 2012. The entity was non performing and the largest hurdle in current debt on the balance sheet. The company started negotiating with the primary debt holder to divest Planet Eco so SPQS could focus on its primary subsidiary Zabo Foods. Both entities operated under a Memorandum of Understanding restricting the release of public disclosure until execution of the Divestiture Agreement.

The subsidiary divested had a minority ownership in company that had yet to yield profits and whose assets had significantly declined in the last few years.

SPQS was able to remove $1,549,874.00 in current liabilities.

SPQS will now focus on its primary subsidiary Zabo Foods which had shown incredible potential in 2011 but was crippled with the need for financing and significant current debt held by SPQS. Zabo Foods has three main staples of products, Zabo chips, sauces, and distribution of Stevia.

Commenting on the divestment, CEO of SPQS Jeffery Burns said: “We identified our problems in June and have worked as fast as possible to right the ship. I personally surrendered 1,800,000,000 shares to facilitate the transaction and provide the best solution for our shareholders. I am committed to SPQS and believe we are a lot better off than we were four months ago. This divestment is an example of our commitment to focus on realizing value to our shareholders. We are now in a better position to go full speed ahead with Zabo Foods.”

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the company’s historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology , industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the company’s filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company’s objectives will be attained.


The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Sportsquest Inc (SPQS) Stock Research Links

SPQS Board Company Profile Buy Rating Time & Sales News Filings Financials
Scroll down for more posts ▼

Top 10 Most Recent News Articles

Ascletis Targets Obesity with New FDA Submission

Updated Category News Views 12

Breaking Ground with Innovative Obesity Treatment In the world of biotech, where breakthroughs are hard-fought and the stakes can seem insurmountable, Ascletis Pharma is swinging for the fences with their latest maneuver. They've submitted an Investigational New Drug application to the U.S. Food and Drug Administration for ASC30_39 FDC—a pioneering fixed-dose combo pill...

Continue Reading
CREB Unlocks 8.50% APY Bonds for IRA Investors

Updated Category News Views 13

CRET Broadens the Path to Fixed-Income Security If you're the type who gets a rash just thinking about stock market jitters, pay attention: Compound Real Estate Bonds (CREB) has cracked the door open a bit wider for your retirement peace of mind. They've teamed up with Equity Trust to offer their rock-solid 8.50% APY bonds through self-directed IRAs. That's right—these...

Continue Reading
HanAll F&B Maps Bold U.S. Entry with Strategic Pivot

Updated Category News Views 102

Diving into Uncharted Waters HanAll F&B is setting its sights on the U.S. market, a move that could be make-or-break for this South Korean food manufacturer. With their recent rebranding from Taebaek Sanchae Naengmyeon Farming Association, they're not just changing names—they're shifting operational gears. The name might sound new, but the gutsy ambition behind it is as...

Continue Reading
Hansa Bolsters Financials with SERB Deal, Eyes Growth

Updated Category News Views 43

Financial Gains and Strategic Shifts Oh, here we go again—another quarterly report from Hansa Biopharma, and this one’s got some meat on its bones. They’ve sparked up their financial engine with a hefty €115 million licensing deal with SERB, which is a real shot in the arm. As any investor worth their salt would see, this isn’t just about piling cash. It's...

Continue Reading
Brent Crude's Tumult: Oil Giants Weather Market Shifts

Updated Category News Views 40

Oil Market Faces Uncertain Waves The energy sector's a rough sea these days, with Brent crude prices yo-yoing close to that $100 mark. If you're looking for clarity, don't hold your breath—the EIA's latest report suggests we’re sticking near this price for the foreseeable future before easing into more palatable waters come late 2027. But we ain't there yet, as U.S....

Continue Reading
Viatris Engages Investors at Key Healthcare Conferences

Updated Category News Views 89

Viatris Steps Into the Limelight Across Conferences Investors, listen up—Viatris Inc. is about to spill some beans at a trio of high-stakes healthcare gatherings. Set to rub elbows with the who's who of the biopharma world, this global healthcare crusader's on a mission. They're lining up to have face time at the UBS Global Biopharma Conference, the Jefferies Global...

Continue Reading
MOUZ Triumphs at IEM-Beijing 2026, Powered by AutoFull

Updated Category News Views 69

A Showdown in Beijing: Esports at Its Peak IEM Beijing 2026 wrapped up on November 8, lighting up the Bloomage Biotech•Biohyalux ECM Arena with some high-octane Counter-Strike 2 matches. In a region that's nothing short of a digital battleground, Team MOUZ clinched the crown. And yeah, they didn't just do it solo; they did it seated in style on AutoFull chairs, the...

Continue Reading
Modaxo Bolsters Public Transport Support for UITP 2027

Updated Category News Views 0

Modaxo Steps Up for UITP Summit Hamburg 2027 Well, Modaxo's back at it again, laying down roots in the public transport sector. Fresh off the press, they've announced they'll be a Platinum Partner for the UITP Summit in Hamburg 2027. That's not just a handshake for the cameras, folks. It's a clear shout-out about where they see themselves in this industry. Living Their...

Continue Reading
Nielsen's $1.4B Notes to Fuel Bold DoubleVerify Buy

Updated Category News Views 75

Reading Between the Financial Lines Nielsen's latest move throws a hefty $1.4 billion worth of senior secured notes into the market, aimed at scooping up DoubleVerify in a play that’s as daring as it is dicey. It's the kind of gamble you discuss with your coffee buddy, sipping something strong enough to wake the dead, and exactly the kind of deal that gets seasoned...

Continue Reading
PMET's Lithium-Tantalum Study Ups Stakes in Québec Project

Updated Category News Views 99

Elevated Ambitions in Québec: PMET's Lithium-Tantalum Leap PMET Resources just handed us an intriguing update on their Shaakichiuwaanaan project up in Québec. They're reshaping the roadmap to crank out both lithium and tantalum more efficiently than a bear on a honeycomb. The revised feasibility study has put to paper numbers that have optimists—and skeptics...

Continue Reading

Top 5 Most Recently Viewed Articles

Google Launches Affordable AI Suite for Federal Use

Updated Category News Views 137

Google Reduces AI Service Costs for Federal Agencies Alphabet’s Google has announced a notable price reduction for its artificial intelligence (AI) and cloud services, specifically tailored for federal agencies. The new AI suite, named “Gemini for Government,” is being offered at an incredibly low cost of $0.47 per unit. This initiative reflects Google’s...

Continue Reading
David Shiner Leads Professionalism Initiative in Law Industry

Updated Category News Views 98

Leadership in Legal Professionalism David Shiner, a dedicated attorney and Founding Partner of Shiner Law Group, P.A., has taken a significant step in his legal career by being appointed as Chair of the South Palm Beach County Bar Association's Professionalism Committee for the upcoming term. This prestigious appointment underscores his commitment to enhancing...

Continue Reading
F5, Inc. Faces Class Action Over Security Breach and Losses

Updated Category News Views 193

Class Action Lawsuit Against F5, Inc. F5, Inc. is currently involved in a class action lawsuit following a data breach that significantly impacted the company. The legal proceedings have emerged due to allegations that the company failed to disclose crucial information concerning its financial health during a specific period. Key Details of the Allegations The lawsuit...

Continue Reading
Tesla Faces Legal Setback Over $243M Verdict in Fatal Crash

Updated Category News Views 153

Tesla Inc. Challenges $243 Million Damages Verdict Attorneys for Tesla Inc. (NASDAQ: TSLA) are contesting a recent judgment from a Miami Federal court, which ordered the company to pay over $243 million in damages related to a fatal crash involving a Florida woman in 2019. The court's decision has sparked significant backlash from Tesla's legal team, who argue that the...

Continue Reading
Projected Growth of the Software Market to USD 2.25 Trillion

Updated Category News Views 150

Projected Growth of the Software Market According to Precedence Research, the global software market is set to expand from USD 659.17 billion in 2023 to around USD 2,248.33 billion by 2034. This remarkable growth is mainly fueled by advancements in technology, supportive government initiatives, and a rise in research projects. Key Insights on the Software Market Several...

Continue Reading